16. How is total asset turnover computed? Why would a hi- nancial statement user be interested in total asset turnover? 17. On its recent balance sheet in Appendix A. APPLE 21. Apple lists its plant assets as "Property, plant and equipment, net." What does "net" mean in this title? What long-term as by the company? Identify the main difference between (a) plant assets and current assets, (b) plant assets and inventory, and (c) plant assets and long-term investments. QUICK STUDY QS 10-1 Cost of plant assets C1 QS 10-2 Assigning costs to plant assets C1 QS 10-3 Straight line Connect Kegler Bowling installs automatic scorekeeping equipment with an invoice cost of $190,000. The electri cal work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During the installation, a component of the equipment is carelessly left on a lane and hit by the automatic lane-cleaning machine. The cost of repairing the component is $1,850. What is the total recorded cost of the automatic scorekeeping equipment? Listed below are certain costs (or discounts) incurred in the purchase or construction of new plant assets (1) Indicate whether the costs should be expensed or capitalized (meaning they are included in the cost of the plant assets on the balance sheet). (2) For costs that should be included in plant assets, indicate in which ca egory of plant assets (Equipment, Building, or Land) the related costs should be recorded on the balance sheet Expensed or Asset Capitalized Category 1. Charges incurred to train employees to use new equipment 2. Invoice cost to purchase new equipment 3. Deduction for an early payment discount taken on the purchase of new equipment 4. Real estate commissions incurred on land purchased for a new plant 5. Property taxes on land incurred after it was purchased 6. Costs of tune-up for the truck used to deliver new equipment 7. Costs to lay foundation for a new building 8. Insurance on a new building during the construction phase On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of dutimater it will use this equipment for four years, during which time it anticipates